BI Asset Management Fondsmaeglerselskab A S Decreases Stake in Illinois Tool Works Inc. $ITW

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its Illinois Tool Works stake by 15.6% in the first quarter, selling 14,837 shares and leaving it with 80,395 shares valued at about $20.9 million.
• Wall Street sentiment remains cautious on ITW: analysts have a consensus rating of “Reduce” with an average price target of $271.92, and several firms recently lowered or maintained bearish ratings.
• Illinois Tool Works posted better-than-expected quarterly results, with EPS of $2.66 versus $2.57 expected, and it also announced a quarterly dividend of $1.61 per share, payable July 10.

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 15.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,395 shares of the industrial products company's stock after selling 14,837 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Illinois Tool Works were worth $20,926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Diversified Trust Co lifted its stake in Illinois Tool Works by 3.3% during the 1st quarter. Diversified Trust Co now owns 1,842 shares of the industrial products company's stock valued at $479,000 after acquiring an additional 58 shares during the period. Baron Wealth Management LLC grew its stake in shares of Illinois Tool Works by 31.6% in the first quarter. Baron Wealth Management LLC now owns 1,275 shares of the industrial products company's stock worth $332,000 after acquiring an additional 306 shares during the period. Physicians Financial Services Inc. raised its holdings in shares of Illinois Tool Works by 1.6% during the first quarter. Physicians Financial Services Inc. now owns 6,452 shares of the industrial products company's stock valued at $1,679,000 after purchasing an additional 100 shares during the last quarter. Hsbc Holdings PLC lifted its position in Illinois Tool Works by 42.1% during the fourth quarter. Hsbc Holdings PLC now owns 819,245 shares of the industrial products company's stock valued at $201,939,000 after purchasing an additional 242,883 shares during the period. Finally, Cornerstone Planning LLC purchased a new stake in Illinois Tool Works in the fourth quarter worth approximately $1,605,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of research reports. Wolfe Research boosted their target price on shares of Illinois Tool Works from $276.00 to $295.00 and gave the company an "underperform" rating in a research note on Friday, February 27th. Barclays dropped their price target on Illinois Tool Works from $275.00 to $250.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 1st. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $254.00 price objective on shares of Illinois Tool Works in a report on Thursday, April 30th. Evercore reduced their price objective on Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Finally, Weiss Ratings downgraded Illinois Tool Works from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average target price of $271.92.

Insider Activity

In other news, Director Jennifer F. Scanlon bought 806 shares of Illinois Tool Works stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average cost of $247.99 per share, with a total value of $199,879.94. Following the acquisition, the director owned 1,652 shares of the company's stock, valued at $409,679.48. The trade was a 95.27% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.83% of the company's stock.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $264.38 on Friday. The stock has a market cap of $76.06 billion, a P/E ratio of 24.55, a P/E/G ratio of 4.54 and a beta of 1.01. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.86 and a current ratio of 1.19. The stock's fifty day moving average is $258.49 and its 200 day moving average is $263.43. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.09. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.Illinois Tool Works's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.38 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 11.37 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be paid a dividend of $1.61 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.4%. Illinois Tool Works's payout ratio is 59.80%.

About Illinois Tool Works

Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.

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